Coinbase tumbles after not making S&P 500 rebalancing
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Coinbase (COIN) shares are under pressure after the crypto trading company was not part of the S&P 500 (^GSPC) quarterly rebalancing. Instead, DoorDash (DASH), Williams-Sonoma (WSM), and TKO Group (TKO) are set to join the S&P 500 at the start of trading on Monday, March 24.
Coinbase's losses come as other crypto-related names also trade lower on Monday, such as bitcoin (BTC-USD), Strategy (MSTR), and Robinhood (HOOD), amid a wider risk-off tone in the market.
Brad Smith and Madison Mills examine the stock's moves on Wealth.
To watch more expert insights and analysis on the latest market action, check out more Wealth here.
This post was written by Naomi Buchanan.
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